HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Message: Re: News release for PRB
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Aug 26, 2011 09:10AM
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Aug 26, 2011 09:39AM
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Aug 26, 2011 10:32AM
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Aug 26, 2011 10:50AM

Hi Mark,

I think the problem with Probe, at least in terms of their gold is that their cut off grade is 0.3g/t and their AVERAGE grade is about 0.7g/t . Now, the distribution of this seems fairly consistent and I belive they will be successful in getting a positive feasibility study. Gold as I believed has rebounded very strongly and if I owned Probe, I would be watching gold prices like a hawk because they will be very dependant on high prices. However, if prices go where I believe they are going, Probe will be a good investment.

As for Noront, I think you will see many political discussions on it but I do not think we get anything that will give a kick to the share price till after the elections are done. Once the election is done, whoever wins, I think a key plank in their first 100 days will be the RoF and they will want to move on this asap. Once there is a firm announcement by the province, then watch the ball start rolling and gathering speed. Until we have elected officials, I think we go nowhere. Again, hope I am wrong but in the end, I think we are only a few months away from lighting this powder keg.

Glorieux

PS: I do not wish to start a political debate here but Hudak is from Fort Erie where I have my practice, he cut the ribbon to my practice and I have some friends that are well connected to him. I think that because of his understanding of rural areas, his stint as minister of northern affairs, we are more likely to see results quicker with a progressive government. However, to be fair, I do not know enough about McGuinty's platform to compare.

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